Oceangoing Buy: Right-O-Way Transportation Inc., a Tustin company that specializes in trucking cargo from planes or ships, has expanded its reach into international markets by acquiring an East Coast ocean freight forwarding company.
Right-O-Way, founded in 1979, bought Eurocontinental Inc., a Port Kearny, N.J., company that also has a major shipping terminal outside Chicago. Terms were not disclosed.
“Eurocontinental will allow Right-O-Way to play a much larger role on the international transportation scene, providing our customers with a complete menu of services,” said Harald Niehenke, president of Right-O-Way. “Eurocontinental is a major factor in ocean freight forwarding.”
International trade is one of the fastest-growing areas of the freight forwarding and trucking business, Niehenke said.
Eurocontinental also operates customs brokerage services and has the ability to serve small shippers by combining their deliveries with others to fill containers adequately, as required by container ship operators.
Niehenke said Right-O-Way, which has 300 employees and annual revenue of about $60 million, expects to pursue “a vigorous program of growth through internal development as well as well-planned acquisitions.”